Energen Corporation (EGN) Given Average Recommendation of “Buy” by Analysts
Energen Corporation (NYSE:EGN) has been given an average recommendation of “Buy” by the twenty-nine analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $65.96.
EGN has been the topic of several research reports. Zacks Investment Research cut shares of Energen Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Barclays PLC set a $57.00 price target on shares of Energen Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Citigroup Inc. reduced their price target on shares of Energen Corporation from $58.00 to $56.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 15th. Scotiabank restated a “buy” rating and issued a $56.00 price target on shares of Energen Corporation in a research report on Friday, June 30th. Finally, Williams Capital boosted their price target on shares of Energen Corporation from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, June 20th.
Energen Corporation (NYSE:EGN) traded up 0.13% during trading on Wednesday, hitting $52.61. 531,251 shares of the company traded hands. The company’s 50 day moving average is $52.17 and its 200-day moving average is $52.23. Energen Corporation has a 52 week low of $46.16 and a 52 week high of $64.43. The stock has a market capitalization of $5.11 billion, a PE ratio of 83.24 and a beta of 1.95.
Energen Corporation (NYSE:EGN) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Energen Corporation had a net margin of 7.75% and a negative return on equity of 1.74%. The company had revenue of $256.82 million for the quarter, compared to analysts’ expectations of $222.60 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share. Energen Corporation’s quarterly revenue was up 142.8% on a year-over-year basis. Analysts predict that Energen Corporation will post $0.40 earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in EGN. Creative Planning lifted its stake in Energen Corporation by 8.0% in the second quarter. Creative Planning now owns 3,390 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 250 shares during the period. Optimum Investment Advisors purchased a new stake in Energen Corporation in the second quarter worth about $228,000. Laurion Capital Management LP purchased a new stake in Energen Corporation in the first quarter worth about $229,000. Oppenheimer Asset Management Inc. purchased a new stake in Energen Corporation in the first quarter worth about $231,000. Finally, Capital Insight Partners LLC purchased a new stake in Energen Corporation in the second quarter worth about $237,000. 94.01% of the stock is owned by institutional investors.
About Energen Corporation
Energen Corporation is an oil and natural gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas properties and natural gas. Its operations are conducted through subsidiary, Energen Resources Corporation and occur within the Midland Basin, the Delaware Basin and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico.
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